Updated in June 2022, this course provides comprehensive coverage of the auditing standards and how to communicate, document and apply the requirements, including key audit matters, enhanced auditor reporting and review engagements.
Description
Updated in June 2022, this course provides comprehensive coverage of the auditing standards and how to communicate, document and apply the requirements, including key audit matters, enhanced auditor reporting and review engagements.
The course includes activities, case studies, examples, tips, traps and warnings to ensure learning can be applied to your work. There are also videos that highlight particular issues to enhance your learning experience.
Key topics:
- Audit risk identification and assessment
- A practical guide to materiality
- Assessing the design and implementation of controls
- The auditor’s responses to assessed risks
- Sufficient audit documentation
- The auditor’s responsibilities relating to fraud
- The written requirements for auditor / client communication
- Enhanced auditor reporting: for all entities
- Enhanced auditor reporting: key audit matters
- Review engagements
- Other audit & review matters
Learning objectives
- Assess the risks of material misstatement at the financial report and assertion level.
- Determine documentation requirements for materiality.
- Assess the design and implementation of controls.
- Perform audit procedures to respond to the assessed risks.
- Describe ‘professional skepticism’ and how to document this appropriately.
- Determine the appropriate audit procedures relating to fraud and the appropriate documentation of these procedures.
- Determine the various types of written communication between auditors and clients relevant to audit engagements.
- Implement enhanced auditor reporting relating to the audit of financial statements.
- Communicate Key Audit Matters.
- Determine which entities can elect to have a review rather than an audit.
Audience
This course is designed for auditors and public practitioners.
